Hi, we privately rent to our tenant. Our property has quite a lot of mirbou (spell?) fencing and planter boxes. These are normally restained twice a year.
Our tenant has expressed an interest in doing this for us rather than hiring a painter/handyman. We are happy for her to do this in lieu of a weeks rent and we supply the materials required.
My question is what is the best way to go around this for tax time? Do we pay her the money and write it off as an expense – obviously she doesn't have a ABN no.
If you could let me know please.
Thank you,
MareeMy wild guess is – just don't charge her the rent that week
Surely decreasing income gives you as much tax benefit as increasing expense
Better ask an accountant though, on the whole
that makes sense – can double check with accountant at tax time.
Thanks
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